How to value your FD
08-02-23, 03:20 PM
#5951
One auction that surprised me was the mariner blue on CarsandBids: https://carsandbids.com/auctions/9nm...993-mazda-rx-7
Thus far it seemed that modified FDs didn't really auction over $60k... I thought it was a welcome sign for people like me that have a relatively lower mile FD (40k-80k miles) and tasteful modifications. Personally, I wouldn't want a bone stock example that was really expensive to get into.
Thus far it seemed that modified FDs didn't really auction over $60k... I thought it was a welcome sign for people like me that have a relatively lower mile FD (40k-80k miles) and tasteful modifications. Personally, I wouldn't want a bone stock example that was really expensive to get into.
PS I absolutely love the exterior of that car. I specially loved how they thoroughly painted the trunk, engine bay, door jams. Someone who is that meticulous usually doesn't drop the ball in other places (maintenance, mods, ect). With that said, I didn't love every mod (interior mostly) but from a quick glance the car looked very decent. Not surprised it went for $63K
.
Last edited by Montego; 08-02-23 at 03:28 PM.
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Neo (08-02-23)
08-03-23, 12:53 AM
#5952
Interesting dynamic with auctions coming in on top of each other. Is the interest being generated offsetting the risk of a wee bit of oversupply?
Seems buyers should be happy with what they are getting.
Seems buyers should be happy with what they are getting.
Last edited by Redbul; 08-03-23 at 04:42 PM.
08-03-23, 12:05 PM
#5953
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mr2peak (08-03-23)
08-03-23, 12:44 PM
#5955
Rotary Enthusiast
My money market account is currently paying 5.12%, you'd be a fool not to free up cash at the moment. Especially if that equity is sitting in something that costs you money to own and you aren't using it.
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Fritz Flynn (08-04-23)
08-03-23, 12:53 PM
#5956
The assets are rotating, some has the money to spend and some want the money to spend, as long as that keep up the price will stay.
The BB yesterday pull in just a few k less than that VR also shows the difference of a natural 5-spd car vs a swap.
The BB yesterday pull in just a few k less than that VR also shows the difference of a natural 5-spd car vs a swap.
08-04-23, 07:57 AM
#5958
Senior Member
Yeah, the swap plus the full repaint would diminish the value for a collector, I guess, which is where the really big money comes from on the low-mileage cars. But at ~$46K this will make a really nice driver that you don't have to sweat devaluing.
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08-08-23, 02:15 PM
#5959
R1 Sold for $102.5k on BAT. Omg, does this mean the market didn't actually soften as a result of 3 cars selling for lower than people would have liked expected a couple weeks ago?
Another example of why 3 cars is not an adequate sample size to make such claims on an overall market.
As always, Fritz's hit the nail on the head for the valuation on this one if you look back to the post 6 days ago.
Another example of why 3 cars is not an adequate sample size to make such claims on an overall market.
As always, Fritz's hit the nail on the head for the valuation on this one if you look back to the post 6 days ago.
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madhat1111 (08-10-23)
08-08-23, 04:12 PM
#5960
Rotary Enthusiast
R1 Sold for $102.5k on BAT. Omg, does this mean the market didn't actually soften as a result of 3 cars selling for lower than people would have liked expected a couple weeks ago?
Another example of why 3 cars is not an adequate sample size to make such claims on an overall market.
As always, Fritz's hit the nail on the head for the valuation on this one if you look back to the post 6 days ago.
Another example of why 3 cars is not an adequate sample size to make such claims on an overall market.
As always, Fritz's hit the nail on the head for the valuation on this one if you look back to the post 6 days ago.
08-09-23, 03:32 AM
#5961
In all it was about 7 cars that were underpriced. But nevermind, the recent employment figures point to no recession, even with higher interest rates. Congratulations!
Go out and buy that second FD!
Before the prices really go nuts.
Go out and buy that second FD!
Before the prices really go nuts.
Last edited by Redbul; 08-09-23 at 01:15 PM.
08-09-23, 12:04 PM
#5962
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R1 Sold for $102.5k on BAT. Omg, does this mean the market didn't actually soften as a result of 3 cars selling for lower than people would have liked expected a couple weeks ago?
Another example of why 3 cars is not an adequate sample size to make such claims on an overall market.
As always, Fritz's hit the nail on the head for the valuation on this one if you look back to the post 6 days ago.
Another example of why 3 cars is not an adequate sample size to make such claims on an overall market.
As always, Fritz's hit the nail on the head for the valuation on this one if you look back to the post 6 days ago.
08-09-23, 12:23 PM
#5963
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So many people tapped into refi's, covid relief etc..... However, debt is a killer in the end, and it will eventually take its toll on both the government and private sectors. The interest rate uptick is going to continue to crush banks, corporate real estate etc....
I could buy a GT4 for 100k, spend 3k on insurance (car insurance is going up a lot so it might even be more), also in VA you pay personal property tax each year so call that another 3k. I'll go to the track at least 3 or 4 times and spend another 6k LOL. So, with repairs and maintenance I'm guessing I'm out 120 the 1st year. Add another 6k for the interest I'm not getting on my 120k and I just can't make myself do it.
PS forgot sales tax, registration etc....so add another 4 or 5k, VA is a bitch for car owners
08-09-23, 07:55 PM
#5964
Ban Peak
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LOL, so true, I don't see inflation going anywhere anytime soon.
So many people tapped into refi's, covid relief etc..... However, debt is a killer in the end, and it will eventually take its toll on both the government and private sectors. The interest rate uptick is going to continue to crush banks, corporate real estate etc....
I could buy a GT4 for 100k, spend 3k on insurance (car insurance is going up a lot so it might even be more), also in VA you pay personal property tax each year so call that another 3k. I'll go to the track at least 3 or 4 times and spend another 6k LOL. So, with repairs and maintenance I'm guessing I'm out 120 the 1st year. Add another 6k for the interest I'm not getting on my 120k and I just can't make myself do it.
PS forgot sales tax, registration etc....so add another 4 or 5k, VA is a bitch for car owners
So many people tapped into refi's, covid relief etc..... However, debt is a killer in the end, and it will eventually take its toll on both the government and private sectors. The interest rate uptick is going to continue to crush banks, corporate real estate etc....
I could buy a GT4 for 100k, spend 3k on insurance (car insurance is going up a lot so it might even be more), also in VA you pay personal property tax each year so call that another 3k. I'll go to the track at least 3 or 4 times and spend another 6k LOL. So, with repairs and maintenance I'm guessing I'm out 120 the 1st year. Add another 6k for the interest I'm not getting on my 120k and I just can't make myself do it.
PS forgot sales tax, registration etc....so add another 4 or 5k, VA is a bitch for car owners
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ptrhahn (08-09-23)
08-09-23, 11:06 PM
#5965
What I have learned from the last handful of BaT sales is that today's FD buyers are a discerning bunch.
The cars that are truly nice - the unmolested ones with nice interiors, no paintwork, and low mileage - go for A LOT more than average or even good examples. Most of the cars that have recently sold for below market in some way have had some major con for buyers who are focused on quality - either prior paintwork/accident history, a worn interior, non-working components, etc.
Rust does not seem to be a problem with FDs, though I think this is likely because the vast majority of owners are not driving them in winter conditions, more than any special rustproofing from Mazda.
The cars that are truly nice - the unmolested ones with nice interiors, no paintwork, and low mileage - go for A LOT more than average or even good examples. Most of the cars that have recently sold for below market in some way have had some major con for buyers who are focused on quality - either prior paintwork/accident history, a worn interior, non-working components, etc.
Rust does not seem to be a problem with FDs, though I think this is likely because the vast majority of owners are not driving them in winter conditions, more than any special rustproofing from Mazda.
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Redbul (08-10-23)
08-09-23, 11:40 PM
#5966
Agree. We aren't at the point yet where a restoration actually makes money so I think there is still a ways to go (either average pricing condition pricing goes up or project pricing decreases). If you get a decent deal on a roller but have to paint it and do mechanical work on it, unless it's stupid low mileage, you won't get your money out when selling (at todays pricing)
08-10-23, 10:30 AM
#5967
Agree. We aren't at the point yet where a restoration actually makes money so I think there is still a ways to go (either average pricing condition pricing goes up or project pricing decreases). If you get a decent deal on a roller but have to paint it and do mechanical work on it, unless it's stupid low mileage, you won't get your money out when selling (at todays pricing)
Last edited by djseven; 08-11-23 at 09:37 AM.
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08-12-23, 10:56 AM
#5969
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This is why we are going to see more FDs and hopefully GT3s listed for sale.
9 SIGNS THAT THE U.S. CONSUMER IS ABOUT TO BREAK (linkedin.com)
9 SIGNS THAT THE U.S. CONSUMER IS ABOUT TO BREAK (linkedin.com)
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08-12-23, 04:06 PM
#5971
How much has the personal total net worth of the average homeowner in the US increased in the last five years?
Debt to income may have risen, but how about net debt to TNW?
I'd be more concerned about a topping out of the housing market, which does not seem to be in the cards at the moment, but, of course ,could come quite suddenly.
Debt to income may have risen, but how about net debt to TNW?
I'd be more concerned about a topping out of the housing market, which does not seem to be in the cards at the moment, but, of course ,could come quite suddenly.
Last edited by Redbul; 08-12-23 at 04:15 PM.
08-13-23, 10:42 AM
#5972
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How much has the personal total net worth of the average homeowner in the US increased in the last five years?
Debt to income may have risen, but how about net debt to TNW?
I'd be more concerned about a topping out of the housing market, which does not seem to be in the cards at the moment, but, of course ,could come quite suddenly.
Debt to income may have risen, but how about net debt to TNW?
I'd be more concerned about a topping out of the housing market, which does not seem to be in the cards at the moment, but, of course ,could come quite suddenly.
Exactly, families feel rich, so they spend more and more and eventually they become accustomed to a certain lifestyle that's extremely hard to break free from. Covid made the kids feel rich with debt relief, covid payments, PPI blah blah blah and they started to spend more and good luck pulling in the reins on kids. Yep, I said kids because in the USA they typically haven't grown enough (have enough life experience to manage their sh#t) until around 35 lol.
So, with unemployment at record lows and the majority of individuals living paycheck to paycheck you can bet there is going to be a lot of cars for sale soon. I also suspect this time around even nice cars because of that paper wealth effect you mentioned.
Overall housing prices are still up which is insane given that the interest rates have more than doubled. The supply side thing is still hurting the housing market but if the fed continues to raise rates or even keeps rates flat the big guys/corps will likely feel a need to sell or go bankrupt (blackstone etc...) and the fall could be equal or worse than the rise.
I don't think the fed will come to the rescue in a meaningful way so I'm going to keep my powder dry while earning 5 plus percent. Either way I'm super fortunate to live in a great area so I'm somewhat insolated, praise Jesus
Last edited by Fritz Flynn; 08-13-23 at 10:52 AM.
08-13-23, 11:08 AM
#5973
Definitely agree on the points below Fritz. I think it all started a long time ago (before Covid) and has been on the rise continuously. Bigger and bigger credit card limits even with low credit, predatory auto loans (hey, here's a fancy car, just pay us over 8 years and don't worry about interest, you don't start paying interest until year 3), predatory mortgage practices (I refi'd to low rates during covid, after interest rates were on the rise, multiple lenders called and sent papers asking me if I wanted to refinance, I literally have zero reason to refinance unless there was something really big I needed to do with cash and refi would be the cheapest option, I repeatedly told them no, and one day after a call with my existing lender, a packet shows up in the mail with all the paperwork needed to refi, a check written for tens of thousands of dollars, and a 400bps rate increase in small print on the last page. Even after I told them the only way I was interested in refi is if they reduce my rates from current state).
Now consumers need to take some responsibility, but predatory practices are exactly that, predator on the prey. Look at Wells Fargo practices, why anyone continues to use that bank and keep there consumer business going is mind boggling.
Also, new forms of layaway are worse than ever. Even buying purely discretionary car parts for racing, look at how prevalent affirm (and other similar companies) buy now pay later type offerings are.
Where I'm going with all this is that this has been getting worse and worse for decades. People generally aspire to live beyond their means, but it's become harder and harder to understand where one stands relative to their means, and the gap to exceeding it gets bigger and bigger, meaning higher and higher risk. I bet a lot of us here could scratch together some debt and buy another FD off BAT (they would even help make that easy), but does that mean it's a good idea, probably not hahah.
Now consumers need to take some responsibility, but predatory practices are exactly that, predator on the prey. Look at Wells Fargo practices, why anyone continues to use that bank and keep there consumer business going is mind boggling.
Also, new forms of layaway are worse than ever. Even buying purely discretionary car parts for racing, look at how prevalent affirm (and other similar companies) buy now pay later type offerings are.
Where I'm going with all this is that this has been getting worse and worse for decades. People generally aspire to live beyond their means, but it's become harder and harder to understand where one stands relative to their means, and the gap to exceeding it gets bigger and bigger, meaning higher and higher risk. I bet a lot of us here could scratch together some debt and buy another FD off BAT (they would even help make that easy), but does that mean it's a good idea, probably not hahah.
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08-13-23, 12:52 PM
#5974
This is why we are going to see more FDs and hopefully GT3s listed for sale.
9 SIGNS THAT THE U.S. CONSUMER IS ABOUT TO BREAK (linkedin.com)
9 SIGNS THAT THE U.S. CONSUMER IS ABOUT TO BREAK (linkedin.com)
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Fritz Flynn (08-14-23)
